Banca Mediolanum offers 4% interest on six-month time deposits

Banca Mediolanum has launched a promotional offer for its SelfyConto online account, featuring a 4% gross annual interest rate on a six-month time deposit. To qualify, new customers must open a SelfyConto account by October 30, subscribe to the Mediolanum Time Deposit by November 6, and credit their salary to the account within seven days of the deposit expiration.

The time deposit requires a minimum amount of 100 euros and a maximum of 500,000 euros. The interest rate is fixed for the six-month duration, and funds can be withdrawn early without losing the interest already earned.

The SelfyConto account includes a zero-fee monthly subscription for the first year, or indefinitely for customers under 30. After the first year, the fee is 3.75 euros per month, which can be waived by crediting a salary or maintaining monthly spending of at least 500 euros. Additional features include free SEPA transfers, digital Mediolanum Mastercard debit cards, and free ATM withdrawals within Italy and the European Union.